AMD completed its ZT Systems manufacturing sale to Sanmina on Oct 27, 2025, with $2.4 billion in cash and 1,151,052 shares at closing
AMD Design, the AMD subsidiary that sold ZT, was eligible for up to $450 million more in cash if conditions were met after closing, the 8-K said.
AMD said on Oct 27, 2025 that it completed the previously announced sale of ZT Group Int'l to Sanmina under the Equity Purchase Agreement dated as of May 18, 2025. Its press release the same day described the deal as the divestiture of the ZT Systems U.S.-headquartered data center infrastructure manufacturing business to Sanmina. AMD Design, LLC, a wholly owned AMD subsidiary and the seller, had sold all of the equity interests of ZT to Sanmina. At closing Sanmina issued 1,151,052 of its shares to the seller and paid, or said it would cause to be paid, $2.4 billion in cash, subject to purchase price adjustments. The seller was eligible for up to $450 million more in cash if conditions were met after closing.1,2,3,4,5
AMD reported the completion in an 8-K filed Oct 27, 2025, the current report a listed company files with the SEC to disclose an event; item 2.01 of an 8-K reports a completed acquisition or sale of assets. The agreement itself was filed as an exhibit to an 8-K that AMD filed on May 19, 2025.6,7,8
AMD retained ZT Systems' design and customer enablement teams, and Sanmina became a preferred new product introduction manufacturing partner for AMD's cloud rack and cluster-scale AI solutions, according to the press release. Forrest Norrod, executive vice president and general manager of AMD's Data Center Solutions business unit, said rack-scale innovation marked the next chapter in AMD's data center strategy. AMD described itself as having driven innovation in high-performance computing, graphics and visualization technologies for more than 55 years.9,10,11,12
The documents we hold state no equity value or enterprise value for the deal. We hold the text of the 8-K and its press release but not the agreement itself, and neither text we hold mentions games.13,14
How each figure was checked
- the 8-K gives Oct 27, 2025 as the day AMD completed the sale; the agreement is dated May 18, 2025October 27, 2025; May 18, 2025SEC EDGAR, Form 8-K filed Oct 27, 2025 ↗
- AMD's press release announces the completion of the divestitureOctober 27, 2025AMD press release, Exhibit 99.1 to the 8-K ↗
- the seller has sold all of ZT's equity interests to SanminaSEC EDGAR, Form 8-K filed Oct 27, 2025 ↗
- what Sanmina issued and paid on the Closing Date1,151,052 shares; $2.4 billion in cashSEC EDGAR, Form 8-K filed Oct 27, 2025 ↗
- the contingent cash the seller is eligible to receive$450 millionSEC EDGAR, Form 8-K filed Oct 27, 2025 ↗
- when the 8-K was filedOct 27, 2025
- the 8-K's items2.01, 7.01, 9.01
- the Purchase Agreement was filed as an exhibit to AMD's 8-K of May 19, 2025May 19, 2025SEC EDGAR, Form 8-K filed Oct 27, 2025 ↗
- AMD retains ZT Systems' design and customer enablement teamsAMD press release, Exhibit 99.1 to the 8-K ↗
- Sanmina becomes a preferred manufacturing partner for AMDAMD press release, Exhibit 99.1 to the 8-K ↗
- Forrest Norrod's title and statementAMD press release, Exhibit 99.1 to the 8-K ↗
- how AMD describes itself55 yearsAMD press release, Exhibit 99.1 to the 8-K ↗
- what the documents of this deal state about its value
- which documents of this filing our records hold
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The record
- Company
- AMD (CIK 2488)
- Form
- 8-K
- Accession
- 0001193125-25-250803
- Filed
- Oct 27, 2025
- Period of report
- Oct 27, 2025
- Items
- 2.01 Acquisition or sale of assets, 7.01 Reg FD disclosure
- Completion, in the 8-K's words
- On October 27, 2025, Advanced Micro Devices, Inc. (“AMD”) completed the previously announced sale of ZT Group Int’l, Inc. (“ZT”) pursuant to the Equity Purchase Agreement (the “Purchase Agreement”) dated as of May 18, 2025, by and among AMD, ZT, AMD Design, LLC, a wholly owned subsidiary of AMD (the “Seller”), and Sanmina Corporation (“Sanmina”).
The deal
Completed- Oct 27, 2025
Acquisition or sale of assets, Reg FD disclosure8-KThis filing
Item 2.01: the company reports an acquisition or a sale of assets. The 8-K's own text says the transaction was completed.
SEC EDGAR ↗
An 8-K reports an acquisition or a sale of assets (item 2.01) and its own text says the transaction was completed. It closes this deal: a later filing starts another.
The whole deal →About AMD
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